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IDB Bank Provides $18 Million Loan For Medical Office At 831 North Highland Springs Avenue

Property Image
FINANCED
$18,000,000

California

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Office55,000 SF
Financed 07/25/2025
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Property Image
FINANCED

IDB Bank Provides $18 Million Loan For Medical Office At 831 North Highland Springs Avenue

831 North Highland Springs Avenue

See Similar Deals
Office55,000 SF
Financed 07/25/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$327
Total Square Footage:55,000 SF
Transaction Type:Loan

The property asset involved in the transaction is a medical office located at 831 North Highland Springs Avenue, Beaumont, with a total square footage of 55,000. The loan amount provided for this property is $18,000,000 under a recapitalization loan type.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $18,000,000
  • Lender: IDB Bank
  • Landlord: David Shlomi & Ben Shlomi
  • Asset Address: 831 North Highland Springs Avenue
  • Market: Beaumont
  • Loan Date: 07/25/2025

The key individuals involved in the deal include David Shlomi and Ben Shlomi, representing Sundance A, LLC. Zak Koenig, serving as Vice President of Commercial Real Estate at IDB Bank, led the successful closure of the deal, with Jeremy Cramer, the Head of California Real Estate, overseeing the financing efforts in the region.

Players

IDB Bank
IDB Bank
LENDER

Details

FINANCED
IMAGE: 07/25/2025 ADDRESS: 831 North Highland Springs Avenue MARKET: Beaumont ASSET TYPE: Office ~ SF: 55,000 LENDER: IDB Bank LANDLORD: David Shlomi & Ben Shlomi LOAN AMOUNT: $18,000,000 LOAN TYPE: Recapitalization NOTE FROM LENDER: We’re proud to share that IDB Bank has recently served as the Sole Lender to provide $18 million in term financing to Sundance A, LLC, led by David Shlomi and Ben Shlomi, on behalf of 831 Highland Springs, a 55,000 sq ft medical office located in Beaumont, California. Our recent deal marks another exciting milestone for our California team, as we continue to serve the growing and diverse needs of our commercial clients, recently reporting more than $140MM in total deal value generated within the California region for the first half of 2025. Congratulations to Zak Koenig, VP, Commercial Real Estate, for leading our successful deal closure, as well as to Jeremy Cramer, Head of California Real Estate, who continues to oversee our strategic financing efforts with the region. Thank you to David and Ben for their continued relationship and trust!

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,000,000.00

Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00